MAPS1
Master Your Financial Knowledge
Welcome to the MAPS1 quiz, designed to test your knowledge on financial products and market concepts. Whether you're a professional or just someone looking to expand your understanding, this quiz challenges you with thought-provoking questions.
Key Features:
- 10 Multiple Choice Questions
- Instant Feedback on Your Performance
- Learn About Surrender Charges and Interest Rates
If a customer needs to withdrawal $15k above the free withdrawal limit in year 7 and the surrender charge schedule is 8%, 7%, 7%, 6%, 6% the penalty would be?
$600
$500
$0
$700
If a customer needs to withdrawal $15k above the free withdrawal limit in year 5 and the surrender charge schedule is 8%, 7%, 7%, 6%, 6% the penalty would be?
$900
$1050
$1200
$850
When interest rates at the time of withdrawal are higher than the level at the time of contract was issued, the MVA will result in?
A decrease
An increase
When interest rates at the time of withdrawal are lower than the level at the time of contract was issued, the MVA will result in?
A decrease
An increase
The MVA is an adjustment that can either increase or decrease the withdrawal amount depending on the current interest rate environment?
True
False
1035 Exchanges require approval from?
FSMM
SM
Sr CSR
Market President
Question 4a on the Financial Profile should always be answered as ________ to avoid NIGO?
Yes
No
The S&P 500 was created in 1957. This world-renowned index includes 500 of the top companies in leading industries of the US economy.
True
False
All constituents of the S&P 500 must be US companies.
True
False
As of 2023 these companies are part of the top 10 constituents in the SP 500
META Platforms, Alphabet Inc, Nvidia
Apple, Microsoft, Amazon
Berkshire Hathaway, Tesla
All of the above
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